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