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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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Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
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