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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
Monday, 11 May 15
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COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
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- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
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- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Planning Commission, India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
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- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
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