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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, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
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