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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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Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
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- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Deloitte Consulting - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- The University of Queensland
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
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