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