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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
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- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
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- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- PTC India Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
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