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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- CNBM International Corporation - China
- The University of Queensland
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
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