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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
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The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
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