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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, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
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- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PTC India Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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