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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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Monday, 09 October 17
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Tuesday, 03 October 17
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Showing 1921 to 1925 news of total 6871 |
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- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- The University of Queensland
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
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