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