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