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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 1881 to 1885 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
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