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