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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, 31 July 20
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Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
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- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- VISA Power Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
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