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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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Thursday, 16 January 20
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- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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