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