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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Ministry of Mines - Canada
- The University of Queensland
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
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