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