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