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