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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 1806 to 1810 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Australian Coal Association
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
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