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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
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Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
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Wednesday, 21 January 15
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Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
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Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Australian Coal Association
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
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