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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- GMR Energy Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
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