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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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Monday, 09 October 17
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Tuesday, 03 October 17
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Showing 1921 to 1925 news of total 6871 |
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- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
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