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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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Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Planning Commission, India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
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