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