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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, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
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