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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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Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
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Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
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Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
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