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