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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
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