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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, 11 April 16
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- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
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