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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, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
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Wednesday, 12 October 11
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There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
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