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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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Thursday, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
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- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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