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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Vizag Seaport Private Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
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- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
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- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
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- Madhucon Powers Ltd - India
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- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
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- Chamber of Mines of South Africa
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- Planning Commission, India
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- Romanian Commodities Exchange
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- Baramulti Group, Indonesia
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- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
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