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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Parliament of New Zealand
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
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