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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, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
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- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Goldman Sachs - Singapore
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- IHS Mccloskey Coal Group - USA
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- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
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- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- MS Steel International - UAE
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- Intertek Mineral Services - Indonesia
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- Lanco Infratech Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
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- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
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- Semirara Mining Corp, Philippines
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- Indonesian Coal Mining Association
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- Indian Oil Corporation Limited
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- White Energy Company Limited
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- Ministry of Finance - Indonesia
- Economic Council, Georgia
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- McConnell Dowell - Australia
- Electricity Authority, New Zealand
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- Attock Cement Pakistan Limited
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- Sical Logistics Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
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- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
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- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
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- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
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- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
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