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