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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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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
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- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
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- GMR Energy Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Planning Commission, India
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- Mjunction Services Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
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