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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
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- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
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