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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- PTC India Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
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