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