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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, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Australian Coal Association
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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