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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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Saturday, 11 January 20
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Thursday, 09 January 20
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Thursday, 09 January 20
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- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Australian Coal Association
- Economic Council, Georgia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
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