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