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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
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