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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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Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
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- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Petron Corporation, Philippines
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