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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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Thursday, 19 November 15
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Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
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