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