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