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