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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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SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
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Showing 2006 to 2010 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Parliament of New Zealand
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
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