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