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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Minerals Council of Australia
- The University of Queensland
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
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