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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, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
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