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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, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
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- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
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- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
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- Eastern Energy - Thailand
- ICICI Bank Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
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- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
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- The Treasury - Australian Government
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- Aditya Birla Group - India
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- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
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- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
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- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
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