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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, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
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Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
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VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
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Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
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