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