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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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Wednesday, 19 February 20
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Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
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ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
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- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
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- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
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