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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, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
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Tuesday, 13 December 22
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Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
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- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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