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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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Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
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- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
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