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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
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