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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, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Trasteel International SA, Italy
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- VISA Power Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- The University of Queensland
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
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