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