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