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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
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