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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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Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
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Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
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Wednesday, 30 December 20
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Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
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- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- White Energy Company Limited
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
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