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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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Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
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