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