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