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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, 21 February 18
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Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
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- GMR Energy Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
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