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