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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, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
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