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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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Saturday, 20 June 20
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Friday, 19 June 20
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Thursday, 18 June 20
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INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
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- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
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