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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
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