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