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