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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
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- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
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- Eastern Coal Council - USA
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- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
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- Energy Development Corp, Philippines
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- New Zealand Coal & Carbon
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- London Commodity Brokers - England
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- Metalloyd Limited - United Kingdom
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- VISA Power Limited - India
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- Trasteel International SA, Italy
- Indian Oil Corporation Limited
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- Minerals Council of Australia
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- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
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- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Indonesian Coal Mining Association
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- Orica Australia Pty. Ltd.
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- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
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- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
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- White Energy Company Limited
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
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- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
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