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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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Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
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