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