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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, 21 May 14
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Monday, 19 May 14
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- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- The University of Queensland
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
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