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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, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
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- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Australian Coal Association
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- The University of Queensland
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- PTC India Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
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