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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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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
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Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
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