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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Tata Chemicals Ltd - India
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