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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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Sunday, 09 December 12
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- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
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