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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
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The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Posco Energy - South Korea
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
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