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