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