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