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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, 14 August 14
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Monday, 11 August 14
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- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
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