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