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