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