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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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Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
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- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- PTC India Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
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