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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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Tuesday, 24 March 20
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- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
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- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
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- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
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- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
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