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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, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
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Monday, 18 May 20
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Monday, 18 May 20
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Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
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- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
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- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
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- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
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- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
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- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
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- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
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- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Australian Coal Association
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
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