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