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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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Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
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- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
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