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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, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
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