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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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Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- ASAPP Information Group - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- The University of Queensland
- Eastern Coal Council - USA
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
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