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