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