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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
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