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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, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Parliament of New Zealand
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Parry Sugars Refinery, India
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