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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
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Tuesday, 07 July 20
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A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
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- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
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- Ceylon Electricity Board - Sri Lanka
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- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
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- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
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- Indian Energy Exchange, India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
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- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
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