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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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Wednesday, 12 February 20
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- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- The University of Queensland
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
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