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