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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
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