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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, 21 February 18
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Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
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- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- The University of Queensland
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
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