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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Australian Coal Association
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- CNBM International Corporation - China
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
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