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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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Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
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Wednesday, 13 July 22
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- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
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