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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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Monday, 24 August 15
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Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
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Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
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Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
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Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
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- Independent Power Producers Association of India
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- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
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- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
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- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
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- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
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- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
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- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- White Energy Company Limited
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- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
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