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