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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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DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
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Showing 1856 to 1860 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
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