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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Parliament of New Zealand
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