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