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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, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- White Energy Company Limited
- The University of Queensland
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
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