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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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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
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