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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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Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Planning Commission, India
- ASAPP Information Group - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Electricity Generating Authority of Thailand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
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