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