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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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Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
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- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
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- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
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- Anglo American - United Kingdom
- Trasteel International SA, Italy
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- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
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- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
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