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