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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, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
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Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
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- Price Waterhouse Coopers - Russia
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- Karbindo Abesyapradhi - Indoneisa
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- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
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- International Coal Ventures Pvt Ltd - India
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- Gujarat Electricity Regulatory Commission - India
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- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
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- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
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- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
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- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
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- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
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- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
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- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
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- Baramulti Group, Indonesia
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- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
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- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
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- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
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- Formosa Plastics Group - Taiwan
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- Indonesian Coal Mining Association
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- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
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- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
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- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
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- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
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- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Ministry of Mines - Canada
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- Ministry of Transport, Egypt
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