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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
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