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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, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
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