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