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