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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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Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
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COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
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EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
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- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
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