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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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Tuesday, 19 May 15
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- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
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