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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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