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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, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
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