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