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