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