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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Chettinad Cement Corporation Ltd - India
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- The University of Queensland
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- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
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- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
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- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
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- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
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- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
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