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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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Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
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Friday, 26 October 18
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Friday, 26 October 18
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Thursday, 25 October 18
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- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
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- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
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