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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 1996 to 2000 news of total 6871 |
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- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
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