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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, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
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THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
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Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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Wednesday, 12 August 15
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Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Aditya Birla Group - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
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