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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
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- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
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- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
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- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
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- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
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- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
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- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
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