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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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Monday, 23 September 19
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- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
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