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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, 30 November 99
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Showing 6871 to 6871 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
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- MS Steel International - UAE
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- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
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- Romanian Commodities Exchange
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- Parliament of New Zealand
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- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
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- TeaM Sual Corporation - Philippines
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- London Commodity Brokers - England
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- SMC Global Power, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
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- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
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- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
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- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
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- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
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- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
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- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
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- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
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- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
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- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
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