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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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Monday, 02 November 20
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The index, released by China ...
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- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
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