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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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Saturday, 01 February 20
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Friday, 31 January 20
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- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
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