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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Parliament of New Zealand
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
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