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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, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
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