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