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