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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, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
Tuesday, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
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- Bhatia International Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
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- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
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- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
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- Tamil Nadu electricity Board
- Deloitte Consulting - India
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- Parliament of New Zealand
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- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
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- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
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- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
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- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
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- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
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- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
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- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Australian Coal Association
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- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
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- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
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- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
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