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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 1881 to 1885 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Australian Coal Association
- MS Steel International - UAE
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
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