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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, 13 October 21
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- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
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