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