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