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