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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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Monday, 04 January 10
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Monday, 04 January 10
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Sunday, 03 January 10
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- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
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