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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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Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
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