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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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Friday, 04 December 09
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- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Planning Commission, India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
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