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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, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
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- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
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