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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- MS Steel International - UAE
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
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