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