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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
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