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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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Saturday, 09 May 20
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- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Economic Council, Georgia
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- Riau Bara Harum - Indonesia
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- Oldendorff Carriers - Singapore
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- Indian Energy Exchange, India
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- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
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- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
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- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
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- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
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