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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
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- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
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