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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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Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
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- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
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