Tuesday, 14 Feb 2012
Coal miner PT Resource Alam Indonesia said that it has spent USD 7.9 million to acquire controlling stakes in four coal mining companies in East Kalimantan.
The company in a statement said that Resource Alam purchased a 75% stake in each of the firms: PT Kaltim Mineral, PT Jaya Mineral, PTTambang Mulia and PT Chaido Mega Mineral.
The statement said that “Future development of the newly acquired concessions, in addition to the company’s organic growth, is in alignment with Resource Alam’s long term objective to become one of Indonesia’s major coal producers.”
Resource Alam previously commissioned mining consultant PT Britindo to conduct geological studies of the coal mining concessions, which span 28,521 hectares, and their prospective open-cut potential.
Indonesia, the world’s largest coal exporter, is expected to produce 340 million tons this year, including 6 million tons expected to be produced by Resource Alam.
Mr Eric Tirtana Resource Alam’s investor relations chief told The Jakarta Post that “The newly acquired fields are still green fields, they’re not yet producing. The potentials are still being analyzed. We’re still counting on organic growth for the year.”
Chaido is the closest to starting operations next year, on 5,000 hectares near Resource Alam’s northern block. Resource Alam spent USD 1.67 million to acquire the company’s 75% stake.
Meanwhile, Kaltim Mineral, Jaya Mineral and Tambang Mulia will start production in 2015 on a combined adjoining area of 23,521 hectares. A 75% stake in each of the three firms was valued at USD 6.25 million.
(sourced Thejakartapost.com)
Showing posts with label East kalimantan. Show all posts
Showing posts with label East kalimantan. Show all posts
Tuesday, February 14, 2012
Thursday, February 9, 2012
Russian Railways to build USD 1.7 billion coal line in Indonesia
Thursday, 09 Feb 2012
It is reported that Russia's state railway company Russian Railways intends to build a train link to transport coal in Indonesia's East Kalimantan province on Borneo.
Mr Andrey Shigaev project director of Russian Railways said that the project will be financed by private investors and Russian state development bank Vnesheconombank.
Mr Awang Faroek governor of East Kalimantan said that "The first stage of the railway will be meant for coal, but hopefully we can also use it for crude palm oil plantation harvests, rubber and people."
It is expected that the first phase, covering 185 kilometers of track, will cost around USD 1.7 billion and is scheduled to enter service in the first quarter of 2017, bringing 20 million tonnes of capacity online in the first year.
A further 60 kilometers will be added as a second stage, representing an investment of USD 0.7 billion.
(sourced www.ifandp.com)
It is reported that Russia's state railway company Russian Railways intends to build a train link to transport coal in Indonesia's East Kalimantan province on Borneo.
Mr Andrey Shigaev project director of Russian Railways said that the project will be financed by private investors and Russian state development bank Vnesheconombank.
Mr Awang Faroek governor of East Kalimantan said that "The first stage of the railway will be meant for coal, but hopefully we can also use it for crude palm oil plantation harvests, rubber and people."
It is expected that the first phase, covering 185 kilometers of track, will cost around USD 1.7 billion and is scheduled to enter service in the first quarter of 2017, bringing 20 million tonnes of capacity online in the first year.
A further 60 kilometers will be added as a second stage, representing an investment of USD 0.7 billion.
(sourced www.ifandp.com)
Saturday, January 14, 2012
Peabody opens office in Balikpapan
Saturday, 14 Jan 2012
Peabody Energy announced the opening of an office in Balikpapan, Indonesia a seaport city in the East Kalimantan province. The move further expands the company’s presence in the world’s largest supplier of seaborne thermal coal.
Peabody Balikpapan office complements ongoing sourcing and business development activities in Indonesia and supports an office in the capital city of Jakarta. Indonesia is the fastest-growing supplier of thermal coal to both China and India and Peabody is positioning itself to assist local suppliers in moving Indonesian coal throughout the Pacific Rim. The company has secured multiple term offtake agreements from resource-rich East Kalimantan.
Mr Yosef Setiyawan Director of Engineering Indonesia will lead the office and has responsibility for supporting business development and structured transactions. Setiyawan brings extensive experience in mining engineering, technical services and business development from his tenure at BHP Billiton in Australia and Indonesia. He reports to Mr Keith Downham Vice President of Resource Development Indonesia.
Peabody Energy announced the opening of an office in Balikpapan, Indonesia a seaport city in the East Kalimantan province. The move further expands the company’s presence in the world’s largest supplier of seaborne thermal coal.
Peabody Balikpapan office complements ongoing sourcing and business development activities in Indonesia and supports an office in the capital city of Jakarta. Indonesia is the fastest-growing supplier of thermal coal to both China and India and Peabody is positioning itself to assist local suppliers in moving Indonesian coal throughout the Pacific Rim. The company has secured multiple term offtake agreements from resource-rich East Kalimantan.
Mr Yosef Setiyawan Director of Engineering Indonesia will lead the office and has responsibility for supporting business development and structured transactions. Setiyawan brings extensive experience in mining engineering, technical services and business development from his tenure at BHP Billiton in Australia and Indonesia. He reports to Mr Keith Downham Vice President of Resource Development Indonesia.
Monday, December 5, 2011
East Kalimantan province coal miners shares drop on bridge collapse
Monday, 05 Dec 2011
The Jakarta Globe reported that shares of Harum Energy and other Indonesian coal miners that operate in East Kalimantan province fell on concern that the collapse of the Kutai Kartanegara bridge into the Mahakam River would affect their profitability.
Mr Herman Koeswanto, an analyst at Mandiri Sekuritas, in a report sent to clients, said that "The Mahakam River is the largest river in East Kalimantan and has one of the most crowded coal barging traffic activities. This will affect almost all listed coal companies that are located in East Kalimantan."
He said that the most affected listed coal companies would be Harum Energy, Indo Tambangraya Megah, Sakari Resources and Bayan Resources. These companies, which do a lot of business in resource-rich East Kalimantan, use the Mahakam River to transport coal for distribution at a port from their facilities.
Mr Alexandara Mira spokesperson of Harum Energy said that "The closure will prevent us from transporting coal from our Separi port to our transshipment points in Muara Jawa and Muara Berau."
Ms Dileep Srivastava, Bumi Resources' investor relations director, said that "Our coal shipment for the month of November 2011 should largely be unaffected since almost all of the coal due to be loaded for the month has been barged past the affected section of Mahakam River. We have notified our customers of potential delays of future shipments resulting from the river closure. We expect to maintain normalcy of coal shipments from our dedicated ports to our valued clients."
Analysts in Jakarta, however, were not so sure that the disaster would have such a light impact on the companies.
Mandiri Sekuritas' Herman said that "This accident should affect the coal loading and deliveries activities that may incur demurrage cost for coal producers."
Ms Erindra Krisnawan, an analyst with CIMB Niaga, said that "As long as the evacuation schedule is not clear, we expect their stock to be pressured."
(sourced TheJakartaglobe)
The Jakarta Globe reported that shares of Harum Energy and other Indonesian coal miners that operate in East Kalimantan province fell on concern that the collapse of the Kutai Kartanegara bridge into the Mahakam River would affect their profitability.
Mr Herman Koeswanto, an analyst at Mandiri Sekuritas, in a report sent to clients, said that "The Mahakam River is the largest river in East Kalimantan and has one of the most crowded coal barging traffic activities. This will affect almost all listed coal companies that are located in East Kalimantan."
He said that the most affected listed coal companies would be Harum Energy, Indo Tambangraya Megah, Sakari Resources and Bayan Resources. These companies, which do a lot of business in resource-rich East Kalimantan, use the Mahakam River to transport coal for distribution at a port from their facilities.
Mr Alexandara Mira spokesperson of Harum Energy said that "The closure will prevent us from transporting coal from our Separi port to our transshipment points in Muara Jawa and Muara Berau."
Ms Dileep Srivastava, Bumi Resources' investor relations director, said that "Our coal shipment for the month of November 2011 should largely be unaffected since almost all of the coal due to be loaded for the month has been barged past the affected section of Mahakam River. We have notified our customers of potential delays of future shipments resulting from the river closure. We expect to maintain normalcy of coal shipments from our dedicated ports to our valued clients."
Analysts in Jakarta, however, were not so sure that the disaster would have such a light impact on the companies.
Mandiri Sekuritas' Herman said that "This accident should affect the coal loading and deliveries activities that may incur demurrage cost for coal producers."
Ms Erindra Krisnawan, an analyst with CIMB Niaga, said that "As long as the evacuation schedule is not clear, we expect their stock to be pressured."
(sourced TheJakartaglobe)
Monday, November 28, 2011
Coal Miners’ Shares Drop on Fallout From Bridge Collapse
Monday, November28, 2011
Shares of Harum Energy and other Indonesian coal miners that operate in East Kalimantan province fell on Monday on concern that the collapse of the Kutai Kartanegara bridge into the Mahakam River would affect their profitability.
“The Mahakam River is the largest river in East Kalimantan and has one of the most crowded coal-barging traffic activities,” said Herman Koeswanto, an analyst at Mandiri Sekuritas, in a report sent to clients on Monday. “This will affect almost all listed coal companies that are located in East Kalimantan.”
He said that “the most-affected listed coal companies” would be Harum Energy, Indo Tambangraya Megah (ITMG), Sakari Resources and Bayan Resources.
These companies, which do a lot of business in resource-rich East Kalimantan, use the Mahakam River to transport coal for distribution at a port from their facilities.
Shares of Harum dropped 5.4 percent to Rp 6,950 at the Indonesia Stock Exchange (IDX). ITMG slipped 2.3 percent to Rp 37,800, and Bayan lost 0.3 percent to Rp 18,150. Sakari, which trades in Singapore, shed 1.8 percent to 1.895 Singapore dollars.
The mining index, which measures the movement of coal miners on the IDX, fell 1.4 percent to 2,487.96 on Monday, compared to a 0.3 percent gain for the benchmark Jakarta Composite Index (JCI).
Coal miners including Harum, Bayan, ITMG and Bumi Resources have notified the exchange and investors as to whether the collapse of the bridge would affect them. Most of the coal miners said they would not be affected by the disaster.
“The closure will prevent us from transporting coal from our Separi port to our transshipment points in Muara Jawa and Muara Berau,” said Harum Energy spokesperson Alexandara Mira in a statement.
“Our coal shipment for the month of November 2011 should largely be unaffected since almost all of the coal due to be loaded for the month has been barged past the affected section of Mahakam River. We have notified our customers of potential delays of future shipments resulting from the river closure.”
Dileep Srivastava, Bumi Resources’ investor relations director, said on Monday that the disaster would have no impact on the company.
“We expect to maintain normalcy of coal shipments from our dedicated ports to our valued clients,” Dileep said in a statement.
Jenny Quantero, corporate director at Bayan, said that there would not be any impact on the company in the short term.
“For now, we are not affected,” she said in a statement. “We hope that the reparation of the bridge will not last long. If the renovation will take more time, we will be affected.”
Bayan is producing 14.5 million to 15.5 million tons of coal and it plans to sell 15 million to 16 million tons of coal this year. The company sells coal to Japan, India and Malaysia and has eight mining companies in East Kalimantan, according to its Web site.
Analysts in Jakarta, however, were not so sure that the disaster would have such a light impact on the companies.
“This accident should affect the coal loading and deliveries activities that may incur demurrage cost for coal producers,” Mandiri Sekuritas’ Herman said.
Erindra Krisnawan, an analyst with CIMB Niaga, agreed.
“As long as the evacuation schedule is not clear, we expect their stock to be pressured,” Erindra said.
Saturday’s collapse of the 10-year-old bridge, which spans the Mahakam river in central East Kalimantan province, has claimed the lives of at least 10 people, and 28 more are missing. The government is currently assessing the effects of the disaster.
The government has prevented any ship from crossing the area of the river where the bridge collapsed.
(sourced The JakartaGlobe)
Shares of Harum Energy and other Indonesian coal miners that operate in East Kalimantan province fell on Monday on concern that the collapse of the Kutai Kartanegara bridge into the Mahakam River would affect their profitability.
“The Mahakam River is the largest river in East Kalimantan and has one of the most crowded coal-barging traffic activities,” said Herman Koeswanto, an analyst at Mandiri Sekuritas, in a report sent to clients on Monday. “This will affect almost all listed coal companies that are located in East Kalimantan.”
He said that “the most-affected listed coal companies” would be Harum Energy, Indo Tambangraya Megah (ITMG), Sakari Resources and Bayan Resources.
These companies, which do a lot of business in resource-rich East Kalimantan, use the Mahakam River to transport coal for distribution at a port from their facilities.
Shares of Harum dropped 5.4 percent to Rp 6,950 at the Indonesia Stock Exchange (IDX). ITMG slipped 2.3 percent to Rp 37,800, and Bayan lost 0.3 percent to Rp 18,150. Sakari, which trades in Singapore, shed 1.8 percent to 1.895 Singapore dollars.
The mining index, which measures the movement of coal miners on the IDX, fell 1.4 percent to 2,487.96 on Monday, compared to a 0.3 percent gain for the benchmark Jakarta Composite Index (JCI).
Coal miners including Harum, Bayan, ITMG and Bumi Resources have notified the exchange and investors as to whether the collapse of the bridge would affect them. Most of the coal miners said they would not be affected by the disaster.
“The closure will prevent us from transporting coal from our Separi port to our transshipment points in Muara Jawa and Muara Berau,” said Harum Energy spokesperson Alexandara Mira in a statement.
“Our coal shipment for the month of November 2011 should largely be unaffected since almost all of the coal due to be loaded for the month has been barged past the affected section of Mahakam River. We have notified our customers of potential delays of future shipments resulting from the river closure.”
Dileep Srivastava, Bumi Resources’ investor relations director, said on Monday that the disaster would have no impact on the company.
“We expect to maintain normalcy of coal shipments from our dedicated ports to our valued clients,” Dileep said in a statement.
Jenny Quantero, corporate director at Bayan, said that there would not be any impact on the company in the short term.
“For now, we are not affected,” she said in a statement. “We hope that the reparation of the bridge will not last long. If the renovation will take more time, we will be affected.”
Bayan is producing 14.5 million to 15.5 million tons of coal and it plans to sell 15 million to 16 million tons of coal this year. The company sells coal to Japan, India and Malaysia and has eight mining companies in East Kalimantan, according to its Web site.
Analysts in Jakarta, however, were not so sure that the disaster would have such a light impact on the companies.
“This accident should affect the coal loading and deliveries activities that may incur demurrage cost for coal producers,” Mandiri Sekuritas’ Herman said.
Erindra Krisnawan, an analyst with CIMB Niaga, agreed.
“As long as the evacuation schedule is not clear, we expect their stock to be pressured,” Erindra said.
Saturday’s collapse of the 10-year-old bridge, which spans the Mahakam river in central East Kalimantan province, has claimed the lives of at least 10 people, and 28 more are missing. The government is currently assessing the effects of the disaster.
The government has prevented any ship from crossing the area of the river where the bridge collapsed.
(sourced The JakartaGlobe)
Saturday, November 19, 2011
Jatenergy to mine first coal under new Indonesian JV
Saturday, 19 Nov 2011
Jatenergy has announced that it will mine its first coal this week, after entering a JV with a currently producing coal mine, Jongkang II in East Kalimantan in Indonesia. The company expects its first sales of high quality thermal coal to Asian customers to occur this year.
JV partner CV Karya Putru Bersama has already sold about 40,000 tonnes of coal from Jongkang II. This milestone realizes Jatenergy's goal of diversifying its energy business.
Jongkang II is Jatenergy's third JV agreement in East Kalimantan, but the first to enter production, with partnerships for the Jongkang and Atan Bara projects.
Jongkang and Atan Bara are both considered to be short to production and Jatenergy expects to follow up in the near future with development of the two projects, once production licenses are granted.
Under the latest agreement, Jatenergy is required to provide working capital in order to earn 30% of the net margin of the coal, as well as to undertake full marketing and sales rights to the coal.
Cash flows from these projects will be used to advance the evaluation and eventual development of the company's showcase Katingan coal project in Central Kalimantan.
In addition to its Indonesian operations, Jatenergy recently executed binding agreements to purchase eight coal exploration permits and permit applications in Queensland's Bowen and Galilee Basins.
Jatenergy has announced that it will mine its first coal this week, after entering a JV with a currently producing coal mine, Jongkang II in East Kalimantan in Indonesia. The company expects its first sales of high quality thermal coal to Asian customers to occur this year.
JV partner CV Karya Putru Bersama has already sold about 40,000 tonnes of coal from Jongkang II. This milestone realizes Jatenergy's goal of diversifying its energy business.
Jongkang II is Jatenergy's third JV agreement in East Kalimantan, but the first to enter production, with partnerships for the Jongkang and Atan Bara projects.
Jongkang and Atan Bara are both considered to be short to production and Jatenergy expects to follow up in the near future with development of the two projects, once production licenses are granted.
Under the latest agreement, Jatenergy is required to provide working capital in order to earn 30% of the net margin of the coal, as well as to undertake full marketing and sales rights to the coal.
Cash flows from these projects will be used to advance the evaluation and eventual development of the company's showcase Katingan coal project in Central Kalimantan.
In addition to its Indonesian operations, Jatenergy recently executed binding agreements to purchase eight coal exploration permits and permit applications in Queensland's Bowen and Galilee Basins.
Saturday, July 30, 2011
Resource Alam 1H profit surges 208 percent
July29, 2011
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net profit of 208.09 percent on the back of strong coal sales volume and higher selling price, as quoted by Insider Stories.
Insider further said it report, Resource Alam posted Rp 214.40 billion (approx. US$ 25,268,120) net profit or Rp 214 (approx. US$ 0.025) per share for the first 6 months of this year (1H 2011) from Rp 69.59 billion (US$ 8,201,532) or Rp 70 (approx. US$ 0.0082 ) per share for the same period a year earlier (1H 2010). Operating profit surges 194.40 percent to Rp 293.02 billion (approx. US$ 34,533,883) from Rp 99.53 billion (approx. US$ 11,730,111).
KKGI's gross profit jumped 157.38 percent to Rp 524.57 billion (approx. US$ 61,823,217) from Rp 293.81 billion (approx. US$ 34,626,988), while net sales reached Rp 981.09 billion (approx. US$ 115,626,399), a 137.24 percent surge from Rp 413.55 billion (approx. US$ 48,738,951).
Resource Alam, with concession area of 24,478 hectares located in East Kalimantan, is owned and founded by Adijanto family.
Pintarso Adijanto (Tan Hong Pheng), one of Adijanto's son, is in charge as Resource Alam's President Director and Swandono Adijanto (Tan Hong Swan) is one of the company's Commissioner.
Pintarso and Swandono have other siblings, Winoto Adijanto (Tan Hung Hwie), Suparno Adijanto (Tan Hong Kiat), Muriati Adijanto (Tan Phe Phe), Pandjijono Adijanto (Tan Hong Phang), and Mariana Adijanto (Tan Phwe Leng).
If you believe an article violates your rights or the rights of others, please contact us.Insider further said it report, Resource Alam posted Rp 214.40 billion (approx. US$ 25,268,120) net profit or Rp 214 (approx. US$ 0.025) per share for the first 6 months of this year (1H 2011) from Rp 69.59 billion (US$ 8,201,532) or Rp 70 (approx. US$ 0.0082 ) per share for the same period a year earlier (1H 2010). Operating profit surges 194.40 percent to Rp 293.02 billion (approx. US$ 34,533,883) from Rp 99.53 billion (approx. US$ 11,730,111).
KKGI's gross profit jumped 157.38 percent to Rp 524.57 billion (approx. US$ 61,823,217) from Rp 293.81 billion (approx. US$ 34,626,988), while net sales reached Rp 981.09 billion (approx. US$ 115,626,399), a 137.24 percent surge from Rp 413.55 billion (approx. US$ 48,738,951).
Resource Alam, with concession area of 24,478 hectares located in East Kalimantan, is owned and founded by Adijanto family.
Pintarso Adijanto (Tan Hong Pheng), one of Adijanto's son, is in charge as Resource Alam's President Director and Swandono Adijanto (Tan Hong Swan) is one of the company's Commissioner.
Pintarso and Swandono have other siblings, Winoto Adijanto (Tan Hung Hwie), Suparno Adijanto (Tan Hong Kiat), Muriati Adijanto (Tan Phe Phe), Pandjijono Adijanto (Tan Hong Phang), and Mariana Adijanto (Tan Phwe Leng).
sourced coalspot
Thursday, March 31, 2011
Challender signs option agreements to purchase four coal projects in Indonesia
Wednesday, 30 March 11
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.
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.
If you believe an article violates your rights or the rights of others, please contact us.
Wednesday, March 9, 2011
Mercator to boost Indonesia coal output
Wed Mar 9, 2011 9:12am GMT
* Mercator traded 4 million tonnes Indonesian coal in 2010
* Oorja mine reaches 1.5 million tonnes output
* New high quality coal mine will add 2 million tonnes
NEW DELHI, March 9 (Reuters) - India's Mercator Lines Ltd (MRCT.BO: Quote) is to boost its Indonesian coal production to 3.5 million tonnes a year with a new mine, a Mercator executive said on Wednesday.
Speaking on the sidelines of a Coaltrans conference in New Delhi, he said Mercator's Ooorja mine in Petangis, East Kalimantan had also grown its output to 1.5 million tonnes a year of 5,400 GAD coal, which is largely shipped to India.
"We traded 4 million tonnes of Indonesian coal last year including our own mine production, the rest we bought from smaller players," the Mercator executive said.
"We mostly sell to traders who then export, only about 30 percent of our output is sold directly to Indian end-users," he said.
The new mine will begin operations this year and produce 2 million tonnes a year of 6,000 GAD coal.
The mine has 40 million tonnes of reserves, he added.
Mercator, India's second-largest private shipping firm, diversified into coal mining four years ago.
"The quality of coal we are producing is ideal for the Indian market but the new mine has higher quality coal, which could go to India or elsewhere in Asia," he said.
Mercator has mostly shipped in 50,000 tonne vessels but because it is one of the world's largest owners of gear grabber panamax vessels the company plans to graduate to panamax loading.
"This gives us a freight advantage with costs," he said.
(Reporting by Jackie Cowhig; Editing by Alison Birrane,sourced Thomson Reuters)
* Mercator traded 4 million tonnes Indonesian coal in 2010
* Oorja mine reaches 1.5 million tonnes output
* New high quality coal mine will add 2 million tonnes
NEW DELHI, March 9 (Reuters) - India's Mercator Lines Ltd (MRCT.BO: Quote) is to boost its Indonesian coal production to 3.5 million tonnes a year with a new mine, a Mercator executive said on Wednesday.
Speaking on the sidelines of a Coaltrans conference in New Delhi, he said Mercator's Ooorja mine in Petangis, East Kalimantan had also grown its output to 1.5 million tonnes a year of 5,400 GAD coal, which is largely shipped to India.
"We traded 4 million tonnes of Indonesian coal last year including our own mine production, the rest we bought from smaller players," the Mercator executive said.
"We mostly sell to traders who then export, only about 30 percent of our output is sold directly to Indian end-users," he said.
The new mine will begin operations this year and produce 2 million tonnes a year of 6,000 GAD coal.
The mine has 40 million tonnes of reserves, he added.
Mercator, India's second-largest private shipping firm, diversified into coal mining four years ago.
"The quality of coal we are producing is ideal for the Indian market but the new mine has higher quality coal, which could go to India or elsewhere in Asia," he said.
Mercator has mostly shipped in 50,000 tonne vessels but because it is one of the world's largest owners of gear grabber panamax vessels the company plans to graduate to panamax loading.
"This gives us a freight advantage with costs," he said.
(Reporting by Jackie Cowhig; Editing by Alison Birrane,sourced Thomson Reuters)
Saturday, February 26, 2011
Peabody Energy Enters Into Coal Sourcing Agreement Accessing Indonesian Coal for Export
St. Louis, Feb25, 2011
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asian export through Peabody COALTRADE's international trading hub in Singapore.
The contract marks the third term agreement Peabody has secured in recent months, which together account for 5.5 million tons of Indonesian coal. Coal from PT CEM will be secured over two years from a mine in East Kalimantan, and the relationship could be expanded over time.
"Peabody's leading coal trading and brokerage platform continues to expand to serve high-growth Asia-Pacific markets," said Peabody President and Chief Commercial Officer Richard A. Navarre. "We will continue to increase our coal sourcing in Indonesia, the world's largest supplier of seaborne thermal coal."
Seaborne coal demand is projected to exceed 1 billion tonnes in 2011, with the Asia Pacific region comprising the vast majority of demand growth. Peabody serves customers in more than 25 countries on six continents and has trading and business offices in Indonesia, Singapore, China, Australia, the United Kingdom and the United States.
Peabody Energy (NYSE: BTU) is the world's largest private-sector coal company and a global leader in clean coal solutions. With 2010 sales of 246 million tons and nearly $7 billion in revenues, Peabody fuels 10 percent of U.S. power and 2 percent of worldwide electricity.
The contract marks the third term agreement Peabody has secured in recent months, which together account for 5.5 million tons of Indonesian coal. Coal from PT CEM will be secured over two years from a mine in East Kalimantan, and the relationship could be expanded over time.
"Peabody's leading coal trading and brokerage platform continues to expand to serve high-growth Asia-Pacific markets," said Peabody President and Chief Commercial Officer Richard A. Navarre. "We will continue to increase our coal sourcing in Indonesia, the world's largest supplier of seaborne thermal coal."
Seaborne coal demand is projected to exceed 1 billion tonnes in 2011, with the Asia Pacific region comprising the vast majority of demand growth. Peabody serves customers in more than 25 countries on six continents and has trading and business offices in Indonesia, Singapore, China, Australia, the United Kingdom and the United States.
Peabody Energy (NYSE: BTU) is the world's largest private-sector coal company and a global leader in clean coal solutions. With 2010 sales of 246 million tons and nearly $7 billion in revenues, Peabody fuels 10 percent of U.S. power and 2 percent of worldwide electricity.
Tags: seaborne thermal coal, raw material, clean coal solutions
Saturday, February 12, 2011
Wed,Feb09,20111
The Bayur Block, sub-block Tani Bakti and South Purwajaya use core drilling method HQ-3 with grid pattern ranged 50 metres. The reserve calculation on the block is still in progress.
For the Loajanan block, the company will continue its geological mapping to decide the mine potential sub blocks. The company still conducts due diligence to drill block Separi.
“All blocks have been approved by Minister of Energy & Mineral Resource for the Exclusive Mining Rights (PKP2B) for production granted to PT Insani Baraperkasa," Corporate Secretary Lenny S.C. said.
Total exploration cost reaches US$1.12 million as of January.
KKGI is owned by Goodwin Investment Private Ltd (17.53%), PT Optima Investama (16.27%), OCBC Securities Pte Ltd (15.80%), UOB Khay Hian Ltd (11.29%), and Dunway Holdings Ltd (6%).
(sourced:theindonesiatoday)
Tag:Coal company,PT Resource Alam Indonesia Tbk(KKGI),RAIN Group,explored Bayur,Perangat,Loajanan blocks,January 2011,PT Insani Baraperkasa,blocks,East Kalimantan
Wednesday, February 9, 2011
Bayan Resources, Kangaroo Resources Ltd. extend due diligence
Tue,Feb08, 2011
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limited have agreed to extend a due diligence period to enable the accomplishment of small number of outstanding items, quoted by Insider Stories.
Insider Stories further reported, in an official statement obtained today, both companies initially set a 30 days of the due diligence on January 28 2011.
The extension won't delay the transaction's accomplishment. Both Bayan and Kangaroo are continuing to finalize independent experts' reviews on the assets, ahead of shareholder meetings to approve the transaction.
On December 28 2010, Bayan and Kangaroo Resources entered into a share purchase agreement.
Bayan will inject Kangaroo Resources with 9 coal concession assets in East Kalimantan with coal resources of 3.8 billion metric tons.
In return, Kangaroo Resources will issue new shares, enabling Bayan Resources to control Kangaroo Resources.
Bayan also entered into share sale and purchase agreements with three buyers PT Ilthabi Bara Utama, Prime Mine Resources Limited, Romo Nitiyudi Wachjo, on December 28 2010 to acquire 9 coal concession assets in East Kalimantan.
Tags: coal miner, PT Bayan Resources, Kangaroo Resources, agreed, diligence period, Australia coal news, Indonesia coal news, share purchase, agreement, East kalimantan, buyers, PT Ilthabi Bara Utama, Prime Mine Resources, Romo Nitiyudi Wacho
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limited have agreed to extend a due diligence period to enable the accomplishment of small number of outstanding items, quoted by Insider Stories.
Insider Stories further reported, in an official statement obtained today, both companies initially set a 30 days of the due diligence on January 28 2011.
The extension won't delay the transaction's accomplishment. Both Bayan and Kangaroo are continuing to finalize independent experts' reviews on the assets, ahead of shareholder meetings to approve the transaction.
On December 28 2010, Bayan and Kangaroo Resources entered into a share purchase agreement.
Bayan will inject Kangaroo Resources with 9 coal concession assets in East Kalimantan with coal resources of 3.8 billion metric tons.
In return, Kangaroo Resources will issue new shares, enabling Bayan Resources to control Kangaroo Resources.
Bayan also entered into share sale and purchase agreements with three buyers PT Ilthabi Bara Utama, Prime Mine Resources Limited, Romo Nitiyudi Wachjo, on December 28 2010 to acquire 9 coal concession assets in East Kalimantan.
Tags: coal miner, PT Bayan Resources, Kangaroo Resources, agreed, diligence period, Australia coal news, Indonesia coal news, share purchase, agreement, East kalimantan, buyers, PT Ilthabi Bara Utama, Prime Mine Resources, Romo Nitiyudi Wacho
Sunday, February 6, 2011
ANCHORAGE loading point moved to Muara Jawa
Saturday, 05 February 2011
The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan has been moved to Muara Jawa, East Kalimantan due to seasonal weather conditions from 1st February 2011.
According to letetr No: GM.76/1/9/Ad-Smd.2011 issued by administration office of Ssmarinda port, to ensure the safety of stevedoring activities and vessels that are loading in the open sea, all the loading operations that take place at Muara Berau will be moved to Muara Jawa with effect from 1st February 2011 for a period of 6 months.
All the vessels calling Samarinda anchorage for coal loading will anchored Muara Jawa Anchorage for loading activites untill at least July 2011.(sourced:coalspot)
The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan has been moved to Muara Jawa, East Kalimantan due to seasonal weather conditions from 1st February 2011.
According to letetr No: GM.76/1/9/Ad-Smd.2011 issued by administration office of Ssmarinda port, to ensure the safety of stevedoring activities and vessels that are loading in the open sea, all the loading operations that take place at Muara Berau will be moved to Muara Jawa with effect from 1st February 2011 for a period of 6 months.
All the vessels calling Samarinda anchorage for coal loading will anchored Muara Jawa Anchorage for loading activites untill at least July 2011.(sourced:coalspot)
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