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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
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Tuesday, 18 February 20
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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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- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bhatia International Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
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