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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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Friday, 06 September 24
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- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
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- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
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- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
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