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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- GMR Energy Limited - India
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