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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, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Planning Commission, India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
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