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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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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
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Tuesday, 18 February 20
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On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
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Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
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- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
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