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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- The University of Queensland
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
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