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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
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