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