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