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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
Tuesday, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
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- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
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