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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
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Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- The University of Queensland
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
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