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