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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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Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
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Thursday, 26 November 20
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Thursday, 26 November 20
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Wednesday, 25 November 20
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- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
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