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