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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- White Energy Company Limited
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
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