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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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Saturday, 11 January 20
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Thursday, 09 January 20
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Thursday, 09 January 20
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- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
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