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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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Saturday, 20 June 20
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Friday, 19 June 20
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- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
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