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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, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
Friday, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Planning Commission, India
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- Grasim Industreis Ltd - India
- White Energy Company Limited
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- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
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- Mintek Dendrill Indonesia
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- Petron Corporation, Philippines
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- Commonwealth Bank - Australia
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- Samtan Co., Ltd - South Korea
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- SN Aboitiz Power Inc, Philippines
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- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
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- Parliament of New Zealand
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- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Economic Council, Georgia
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- Sindya Power Generating Company Private Ltd
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- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
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- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Karaikal Port Pvt Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
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- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
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- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
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- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
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- Power Finance Corporation Ltd., India
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- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
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- Cement Manufacturers Association - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
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- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
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