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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
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