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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
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Thursday, 06 August 20
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Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
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Wednesday, 05 August 20
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- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
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