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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Singapore Mercantile Exchange
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- CNBM International Corporation - China
- Commonwealth Bank - Australia
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- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
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- Central Electricity Authority - India
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- Metalloyd Limited - United Kingdom
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- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
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- Mjunction Services Limited - India
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- Directorate Of Revenue Intelligence - India
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- Sojitz Corporation - Japan
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- Kohat Cement Company Ltd. - Pakistan
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
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- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
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- Australian Commodity Traders Exchange
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- Thiess Contractors Indonesia
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- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
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- Bangladesh Power Developement Board
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- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
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- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
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- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
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- Ministry of Transport, Egypt
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- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
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- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Wilmar Investment Holdings
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- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
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- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
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- Australian Coal Association
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- Indonesian Coal Mining Association
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- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
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- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Parliament of New Zealand
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- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
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