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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
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- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
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