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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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Saturday, 20 June 20
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Friday, 19 June 20
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Thursday, 18 June 20
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Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
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- Borneo Indobara - Indonesia
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- Trasteel International SA, Italy
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- McConnell Dowell - Australia
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- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
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- MS Steel International - UAE
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- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
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- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
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- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Singapore Mercantile Exchange
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- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
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- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
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- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
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- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
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- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
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