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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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Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
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- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- PTC India Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
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