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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, 13 July 22
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Friday, 08 July 22
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BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
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Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- White Energy Company Limited
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
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