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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, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
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Monday, 17 September 18
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Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
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