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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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Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Minerals Council of Australia
- PTC India Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
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