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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- The University of Queensland
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
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