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