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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, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
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- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
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