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