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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, 10 August 22
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Saturday, 06 August 22
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Saturday, 30 July 22
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- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
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