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