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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, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Carbofer General Trading SA - India
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