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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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Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
Tuesday, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
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- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
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