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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT fo ...
Monday, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
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- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
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- Ministry of Mines - Canada
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- Indian Energy Exchange, India
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- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
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- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
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- Indo Tambangraya Megah - Indonesia
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- Baramulti Group, Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
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- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
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- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
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- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
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- PetroVietnam Power Coal Import and Supply Company
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- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
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- Economic Council, Georgia
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- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
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- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
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- Mjunction Services Limited - India
- Australian Coal Association
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
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- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
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