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