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