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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Australian Coal Association
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
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