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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, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
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