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