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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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