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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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Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- PTC India Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
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