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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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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
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- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
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