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