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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, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
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Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
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Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
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- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
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