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