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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 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
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Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Economic Council, Georgia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
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