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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, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
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- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
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- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
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- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
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- Ministry of Transport, Egypt
- Parliament of New Zealand
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- CNBM International Corporation - China
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- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
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- Indonesian Coal Mining Association
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- Ministry of Mines - Canada
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- Sojitz Corporation - Japan
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- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Eastern Energy - Thailand
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- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
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- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
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- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
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- Indika Energy - Indonesia
- Deloitte Consulting - India
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- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Sical Logistics Limited - India
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- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
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- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
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- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
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- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
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- Africa Commodities Group - South Africa
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- Binh Thuan Hamico - Vietnam
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- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
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- Economic Council, Georgia
- Thai Mozambique Logistica
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