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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, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
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Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
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- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
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- Price Waterhouse Coopers - Russia
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- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
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- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
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- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
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- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
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- The Treasury - Australian Government
- VISA Power Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
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- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
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- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- The University of Queensland
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