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