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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 1971 to 1975 news of total 6871 |
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- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
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