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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
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- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
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- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
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- Videocon Industries ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
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- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
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- PTC India Limited - India
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- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
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- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
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- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
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- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Renaissance Capital - South Africa
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- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Parliament of New Zealand
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