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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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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
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WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
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- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
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- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
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- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
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- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
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- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
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- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- VISA Power Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
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