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