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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
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