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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
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- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
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