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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- The University of Queensland
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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