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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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Wednesday, 13 January 10
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- Trasteel International SA, Italy
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
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