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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
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Wednesday, 12 October 11
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There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- White Energy Company Limited
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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