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