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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, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
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- Australian Coal Association
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- PTC India Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
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