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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Bhushan Steel Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- VISA Power Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
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