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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Eastern Coal Council - USA
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