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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, 03 February 21
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- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
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- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
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- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
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- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
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- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Planning Commission, India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
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- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
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