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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, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
Tuesday, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
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- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
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