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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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- Xindia Steels Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
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- The University of Queensland
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- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
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- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
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- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Minerals Council of Australia
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- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
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- Indonesian Coal Mining Association
- Wilmar Investment Holdings
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- Indian Oil Corporation Limited
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Siam City Cement - Thailand
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