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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, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
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- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
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- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
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