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