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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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