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