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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
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- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Aditya Birla Group - India
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- Economic Council, Georgia
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- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
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- Bhoruka Overseas - Indonesia
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- Goldman Sachs - Singapore
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- Global Green Power PLC Corporation, Philippines
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- VISA Power Limited - India
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- PowerSource Philippines DevCo
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- Heidelberg Cement - Germany
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- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
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- Metalloyd Limited - United Kingdom
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- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
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- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
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- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
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