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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Videocon Industries ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Australian Coal Association
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
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