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