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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
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