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