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