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