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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, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
Tuesday, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
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- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
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