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