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