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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, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
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