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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
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Thursday, 10 June 21
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Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
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- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Planning Commission, India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- The Treasury - Australian Government
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
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