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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
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