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