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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- PTC India Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
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