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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
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