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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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Saturday, 21 March 20
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CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
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Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
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Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- The University of Queensland
- White Energy Company Limited
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
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