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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
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