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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, 04 February 20
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- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Bhatia International Limited - India
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