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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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Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
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- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- White Energy Company Limited
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
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