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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- PTC India Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
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