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