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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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- Wood Mackenzie - Singapore
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- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
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- Karaikal Port Pvt Ltd - India
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- Bangladesh Power Developement Board
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- Medco Energi Mining Internasional
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- Kapuas Tunggal Persada - Indonesia
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- Heidelberg Cement - Germany
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- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
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- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
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- Kepco SPC Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
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- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
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- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
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- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
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- Sakthi Sugars Limited - India
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- Sinarmas Energy and Mining - Indonesia
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- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
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- Global Business Power Corporation, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
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- Planning Commission, India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
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- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
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- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
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