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