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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
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
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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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- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- PTC India Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
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