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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
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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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- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
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