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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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Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
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- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- The University of Queensland
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
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