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