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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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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
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