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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 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- White Energy Company Limited
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
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