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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
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