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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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Sunday, 03 July 22
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Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
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- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
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