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