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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, 24 June 24
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Friday, 14 June 24
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Friday, 14 June 24
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Thursday, 13 June 24
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- CNBM International Corporation - China
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- White Energy Company Limited
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