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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, 10 August 22
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Saturday, 30 July 22
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- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- GMR Energy Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
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