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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, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Economic Council, Georgia
- Meralco Power Generation, Philippines
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