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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
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