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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
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