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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 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
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Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
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- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- PTC India Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
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