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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, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
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Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
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