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