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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- PTC India Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
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