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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
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