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