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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
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Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
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VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
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Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- The University of Queensland
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
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