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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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Tuesday, 19 May 15
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- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
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