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