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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, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
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- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
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