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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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Tuesday, 12 April 16
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The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
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- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Planning Commission, India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- The University of Queensland
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
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