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