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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
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Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
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