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