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