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