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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
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