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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, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
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- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- PTC India Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
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