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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, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
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Tuesday, 13 December 22
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Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
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COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
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- Bangladesh Power Developement Board
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Australian Coal Association
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- London Commodity Brokers - England
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