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