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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
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Thursday, 22 December 22
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Thursday, 22 December 22
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Thursday, 22 December 22
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- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- VISA Power Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
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