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