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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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Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
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Saturday, 11 April 20
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KNOWLEDGE TO ELEVATE
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Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
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- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
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