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