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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
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- Ministry of Finance - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Tamil Nadu electricity Board
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- Ministry of Mines - Canada
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- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
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- Bukit Baiduri Energy - Indonesia
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- Central Electricity Authority - India
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- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
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- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
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- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
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- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- White Energy Company Limited
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