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