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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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Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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- Anglo American - United Kingdom
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
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