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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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PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
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- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Planning Commission, India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- The University of Queensland
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- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
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