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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
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- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
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