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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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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
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- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
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