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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
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