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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- White Energy Company Limited
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
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