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