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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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Tuesday, 08 December 09
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- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
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