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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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Tuesday, 29 December 20
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Tuesday, 22 December 20
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- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
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