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