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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Australian Coal Association
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
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