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