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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
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- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
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