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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, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
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