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