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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, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
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Sunday, 03 July 22
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Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
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- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
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