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