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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, 14 December 16
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Tuesday, 13 December 16
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Tuesday, 13 December 16
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Monday, 12 December 16
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- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- The University of Queensland
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
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