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