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