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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
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