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