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