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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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Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- The University of Queensland
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
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