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