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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
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