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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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