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