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