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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, 27 January 21
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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
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Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
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Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
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- Global Business Power Corporation, Philippines
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- PowerSource Philippines DevCo
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- SMC Global Power, Philippines
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- London Commodity Brokers - England
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- McConnell Dowell - Australia
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- Georgia Ports Authority, United States
- White Energy Company Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
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- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
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- Planning Commission, India
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- Rashtriya Ispat Nigam Limited - India
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- Petron Corporation, Philippines
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- Romanian Commodities Exchange
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- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
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- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
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