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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
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