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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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Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
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- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
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