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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, 19 February 20
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ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
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- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
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- Bhoruka Overseas - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
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- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
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- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
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- Bulk Trading Sa - Switzerland
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Sojitz Corporation - Japan
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- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
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- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
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- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
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- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
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- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
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