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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- White Energy Company Limited
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
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