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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, 18 March 09
MANILA'S NAPOCOR SAYS BIDDING FOR 100,000T COAL FAILS - REUTERS
Top Philippine electricityproducer National Power Corp (Napocor) was unable to secure 100,000 tonnes of local coal for one of its power plantsfollow ...
Wednesday, 18 March 09
INDONESIA'S PLN APPOINTS KPC TO SUPPLY COAL - REUTERS
State electricity firm Perusahaan Listrik Negara (PLN) appointed PT Kaltim Prima Coal to supply 1 million tonnes of coal per annum to Tanjung Jati B ...
Monday, 16 March 09
TATA POWER HAS NO PLAN TO SELL STAKE IN INDONESIA BUMI MINES - BLOOMBERG
Tata Power Co., India’s biggest electricity generator outside state control, said it has “no intention” to sell its stake in two I ...
Monday, 16 March 09
ANTAM SELECTS PARTNERS FOR POMALAA POWER PLANT - THE JAKARTA POST
PT Aneka Tambang Tbk, Indonesia’s second-largest nickel producer, said it intended to develop a $300 million coal-fired plant in Pomalaa, Sout ...
Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST
PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chai ...
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- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- The University of Queensland
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
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