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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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Wednesday, 15 December 10
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- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
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