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