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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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Friday, 15 February 13
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- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
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