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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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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
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- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
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