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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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Monday, 14 December 15
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A commodity swap ...
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Friday, 11 December 15
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Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
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- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- ASAPP Information Group - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
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