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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Planning Commission, India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- The University of Queensland
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
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