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