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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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Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
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