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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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Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
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