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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 1951 to 1955 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
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