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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Planning Commission, India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- MS Steel International - UAE
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
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