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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Aditya Birla Group - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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