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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
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- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Planning Commission, India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
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