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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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Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
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