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