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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
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