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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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Tuesday, 07 July 09
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Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Australian Coal Association
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Planning Commission, India
- MS Steel International - UAE
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
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