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