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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, 10 February 18
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- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
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