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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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