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