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