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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, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
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