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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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- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
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