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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- VISA Power Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
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