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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
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