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