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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
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