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