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