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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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Friday, 17 April 20
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Friday, 17 April 20
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Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
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- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
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