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