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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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Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
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- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
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