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