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