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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
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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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- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
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