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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
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- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
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