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