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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, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
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Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
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Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
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