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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
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