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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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Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
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Thursday, 30 January 14
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Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- PTC India Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Parliament of New Zealand
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- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Planning Commission, India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
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