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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, 07 August 20
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Wednesday, 05 August 20
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- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Parliament of New Zealand
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
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