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