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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Planning Commission, India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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