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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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
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