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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
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Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
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Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
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Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
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