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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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Friday, 13 October 17
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KNOWLEDGE TO ELEVATE
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Showing 1916 to 1920 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
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