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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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- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- The University of Queensland
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
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