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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
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