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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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Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- PTC India Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Australian Coal Association
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
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