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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 1611 to 1615 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
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