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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, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
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- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
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- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
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- Semirara Mining and Power Corporation, Philippines
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- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
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- Planning Commission, India
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- Central Java Power - Indonesia
- Anglo American - United Kingdom
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- Rio Tinto Coal - Australia
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- SMC Global Power, Philippines
- Bangladesh Power Developement Board
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- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
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- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
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- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
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- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mintek Dendrill Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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- Mjunction Services Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
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- The Treasury - Australian Government
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- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
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- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
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- Banpu Public Company Limited - Thailand
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- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
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