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