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