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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
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
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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- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
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