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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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Saturday, 01 February 20
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Friday, 31 January 20
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- Coal and Oil Company - UAE
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Indonesian Coal Mining Association
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
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