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