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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, 25 April 16
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Tuesday, 19 April 16
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As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
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