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