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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, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
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Wednesday, 10 April 19
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Monday, 08 April 19
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- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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