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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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Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
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- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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