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