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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, 27 January 21
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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
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Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
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Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
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