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