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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, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
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- Neyveli Lignite Corporation Ltd, - India
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- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
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- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
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- Medco Energi Mining Internasional
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- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
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- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Marubeni Corporation - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
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