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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
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