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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, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
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Monday, 18 May 20
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Monday, 18 May 20
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Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
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- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
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