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