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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
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
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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- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- The University of Queensland
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
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