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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, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
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Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Planning Commission, India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
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