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