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