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