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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
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Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
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VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Planning Commission, India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
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