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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
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