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