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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
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Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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The 4Q swap was down US$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
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Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Indian Energy Exchange, India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Coal and Oil Company - UAE
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- Tamil Nadu electricity Board
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- Global Coal Blending Company Limited - Australia
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- GN Power Mariveles Coal Plant, Philippines
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- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
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- Siam City Cement PLC, Thailand
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- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
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- Edison Trading Spa - Italy
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- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
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- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
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- New Zealand Coal & Carbon
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- Africa Commodities Group - South Africa
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- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
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- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
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- Agrawal Coal Company - India
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- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
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- PTC India Limited - India
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- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
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- White Energy Company Limited
- Coalindo Energy - Indonesia
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- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
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- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
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- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
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