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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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Tuesday, 23 February 10
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THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
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- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Australian Coal Association
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
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