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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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Wednesday, 03 July 19
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- Thiess Contractors Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
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