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