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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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Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
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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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- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
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