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