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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, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Wilmar Investment Holdings
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