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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
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