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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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Monday, 13 April 09
INDIA'S NTPC FOURTH-QUARTER PROFIT RISES 30% ON POWER OUTPUT - BLOOMBERG
NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production. ...
Thursday, 09 April 09
INDONESIAN CILACAP, FISHERMEN PROTEST COAL BARGES ANCHORING IN BAY - THE JAKARTA POST
Fishermen in Cilacap, Central Java, have protested against the presence of dozens of coal barges lying at anchor in Teluk Penyu Bay, claiming they a ...
Thursday, 09 April 09
INDONESIA'S PLN (STATE ELECTRICITY COMPANY) TO SET POWER PURCHASE PRICES FOR INDEPENDENT PRODUCERS - THE JAKARTA POST
State power company PT PLN holds the mandate to set power purchase prices to buy electricity produced by its (IPP) business partners, aiming at flex ...
Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South A ...
Wednesday, 08 April 09
EXPORTS AT AUSTRALIA NEWCASTLE COAL PORT FALL ON STORM -MINING-JOURNAL
Coal exports from Australia's Newcastle port, the world's largest coal export terminal, fell roughly 18% last week to a 4½-month low, as ro ...
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- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- The University of Queensland
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
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