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