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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
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Tuesday, 20 September 22
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China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
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