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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, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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- VISA Power Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
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