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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
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