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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 1891 to 1895 news of total 6871 |
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- Cement Manufacturers Association - India
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- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
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- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
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