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