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