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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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Monday, 24 June 24
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- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
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