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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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Monday, 18 May 20
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Friday, 15 May 20
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
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- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- VISA Power Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- White Energy Company Limited
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