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