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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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Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Australian Coal Association
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
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