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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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- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- VISA Power Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
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