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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- VISA Power Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
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