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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
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