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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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Friday, 06 September 24
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- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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- White Energy Company Limited
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- Wilmar Investment Holdings
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- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
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- Banpu Public Company Limited - Thailand
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- Ministry of Transport, Egypt
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- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
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- Australian Coal Association
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- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
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- Coalindo Energy - Indonesia
- The Treasury - Australian Government
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- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- The University of Queensland
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
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