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