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