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