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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- The University of Queensland
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
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