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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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Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
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- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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