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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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Sunday, 09 December 12
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- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
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