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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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Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
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- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
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