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