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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
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