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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
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