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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
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