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