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