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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
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