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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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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
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Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
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WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
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