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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, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Karbindo Abesyapradhi - Indoneisa
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- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
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