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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, 16 December 10
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- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
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