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