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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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Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
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- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- The University of Queensland
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