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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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Wednesday, 02 February 22
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Monday, 31 January 22
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Sunday, 30 January 22
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ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
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Reportedly, an expert committee appointed by th ...
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- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
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