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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, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
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Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Australian Coal Association
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
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