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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
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- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
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- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
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- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
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- Energy Development Corp, Philippines
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- Port Waratah Coal Services - Australia
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- Global Coal Blending Company Limited - Australia
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- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
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- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Parliament of New Zealand
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- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
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- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
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- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
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- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- The University of Queensland
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
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