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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
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Thursday, 22 December 22
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Thursday, 22 December 22
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Thursday, 22 December 22
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- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- White Energy Company Limited
- The University of Queensland
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
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