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