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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, 02 February 22
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Sunday, 30 January 22
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ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
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Reportedly, an expert committee appointed by th ...
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- Siam City Cement - Thailand
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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