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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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Thursday, 16 December 10
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- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
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- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
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- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Indonesian Coal Mining Association
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- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
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- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
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