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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, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
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- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
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