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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, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
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