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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
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Tuesday, 20 September 22
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China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
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