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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- Australian Coal Association
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
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