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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, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
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- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
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