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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
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HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
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Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
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CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
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- Agrawal Coal Company - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Central Electricity Authority - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
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