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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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