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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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- PNOC Exploration Corporation - Philippines
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- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
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- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
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- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
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- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Parliament of New Zealand
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
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