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