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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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Thursday, 26 November 20
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Thursday, 26 November 20
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Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
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- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
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