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