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