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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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- The University of Queensland
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
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