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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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Thursday, 06 August 09
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Wednesday, 05 August 09
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Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Australian Coal Association
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
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