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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Australian Coal Association
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
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