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