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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Indian Energy Exchange, India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
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