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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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Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
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- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
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