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