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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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Showing 1611 to 1615 news of total 6871 |
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- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
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