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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
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- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
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