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