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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
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