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