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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- The University of Queensland
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
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