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