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