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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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Friday, 01 May 20
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- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
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- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
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- Mjunction Services Limited - India
- Wilmar Investment Holdings
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- Coal and Oil Company - UAE
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- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
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- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
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- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
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- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
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