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