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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, 25 November 15
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
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