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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
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- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
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- Chettinad Cement Corporation Ltd - India
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- Marubeni Corporation - India
- Planning Commission, India
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- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
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- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
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- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
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- Africa Commodities Group - South Africa
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- The Treasury - Australian Government
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- The University of Queensland
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- Price Waterhouse Coopers - Russia
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- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
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- Globalindo Alam Lestari - Indonesia
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- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- White Energy Company Limited
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
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- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
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