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