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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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Wednesday, 03 December 14
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Tuesday, 02 December 14
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Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
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- Australian Coal Association
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- PTC India Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
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