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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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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
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Friday, 01 July 22
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- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- The University of Queensland
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Marubeni Corporation - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
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