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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, 02 December 19
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- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
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- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
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- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
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- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
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- GAC Shipping (India) Pvt Ltd
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- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
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- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
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- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
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- European Bulk Services B.V. - Netherlands
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- Parliament of New Zealand
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- Deloitte Consulting - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
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- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
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