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