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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, 29 May 19
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Friday, 17 May 19
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- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
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