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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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Sunday, 07 July 13
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Thursday, 04 July 13
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Thursday, 04 July 13
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Thursday, 04 July 13
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- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Central Java Power - Indonesia
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