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