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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
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