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