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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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Friday, 22 May 15
FOB INDONESIA COAL Q3'15 SWAP FINISHED THE WEEK UP 38 CENTS TO $43.65 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, past week.
The Q3 swap was declined US$ ...
Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
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- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
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