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