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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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Tuesday, 11 December 18
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- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- PTC India Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
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