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