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