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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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