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