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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
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Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
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Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
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- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
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- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
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- Thiess Contractors Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
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- Lanco Infratech Ltd - India
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- Price Waterhouse Coopers - Russia
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- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
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- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
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- Heidelberg Cement - Germany
- Australian Coal Association
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- VISA Power Limited - India
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- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
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- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
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- Indika Energy - Indonesia
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- Romanian Commodities Exchange
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- Bulk Trading Sa - Switzerland
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- Electricity Authority, New Zealand
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- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
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- The Treasury - Australian Government
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- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
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- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
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- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
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