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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
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