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